Analysis of the Recent Research Trends on Executive Compensation: Comparison between South Korea and China
0
조회
0
다운로드
0
인용
0
참고문헌
키워드
초록
[Purpose] The purpose of this study is to analyze the similarities and differences in the role of executive compensation in business practice of Korea and China, in order to draw the foundation for evidence－based policy implications and identify a new area for future research. [Methodology] From 2000 to 2022, an analysis of literature published in the top six (five) accounting journals in South Korea (China) was conducted, and compare the major findings of them in various perspectives. [Findings] The research on executive compensation started earlier in South Korea than in China. The focus of the research on executive compensation differs between the two countries; the determinants of executive compensation vary between the two countries, and the proxies for firm performance are mostly the same in the two countries. However, most of the studies in the two countries document that executive compensation has a positive impact on firm performance. [Implications] The findings of this study imply that despite the variability in social structures and modes of economic development between South Korea and China, a universal recognition of the function of executive compensation systems within corporate settings emerges. This commonality underscores a shared perspective on the significance of executive remuneration in aligning the interests of management with those of the shareholders.
Abstract
[Purpose] The purpose of this study is to analyze the similarities and differences in the role of executive compensation in business practice of Korea and China, in order to draw the foundation for evidence－based policy implications and identify a new area for future research. [Methodology] From 2000 to 2022, an analysis of literature published in the top six (five) accounting journals in South Korea (China) was conducted, and compare the major findings of them in various perspectives. [Findings] The research on executive compensation started earlier in South Korea than in China. The focus of the research on executive compensation differs between the two countries; the determinants of executive compensation vary between the two countries, and the proxies for firm performance are mostly the same in the two countries. However, most of the studies in the two countries document that executive compensation has a positive impact on firm performance. [Implications] The findings of this study imply that despite the variability in social structures and modes of economic development between South Korea and China, a universal recognition of the function of executive compensation systems within corporate settings emerges. This commonality underscores a shared perspective on the significance of executive remuneration in aligning the interests of management with those of the shareholders.
참고문헌 (21)
- Alder, N. J., "Strategy implementation: a comparison of face-to-face negotiation in the People's Republic of China and the United States", Strategic Management Journal, 13, pp.449~466 (1992)
- Choi, J. M., "Determinants for Managerial Compensation for Small and Medium Companies", Journal of Management and Economics, 37(3), pp.123~144 (2015)
- George T. Milkovich, "Compensation", pp.555~ (2014), McGraw-Hill
- Guo, G. K., "The study on executive compensation disclosure system of listed firm in China", pp.2014
- Gwon, J. H., "Executive Compensation in Korea : Evidence from a New Mandatory Disclosure", The Journal of Asian Finance, Economics and Business, 6(3), pp.91~101 (2019)
- Hofstede, G., "Cultural constraints in management theories", Academy of Management Executive, 7(1), pp.81~94 (1993)
- Hofstede, G., "The Confucius connection : From cultural root to economic growth", Organizational Dynamics, 16(4), pp.5~21 (1988)
- Hu, Y. Q., "Executive Compensation Company's Growth and Relative Performance Evaluation-Empirical Evidence from the Sample of Listed Companies in China", Accounting Research, (5), pp.22~28 (2012)
- Huang, L. S., "Research about executive compensation of listed companies in China", Department of Law, pp.2015
- Hwang, I. T., "Effects of Ownership Structure on Compensation", Korean Accounting Review, 19(1), pp.227~246 (1994)
- Hwang, I. T., "Management Compensation and Corporate Performance", Korean Accounting Review, 20(3), pp.107~126 (1995)
- Kim, S. K., "A Legal Study on Regulation of Executive Compensation", pp.2018
- Kim, T. G., "Do interpersonal relationships still matter for turnover intention? A comparison of South Korea and China", The International Journal of Human Resource Management, 24(5), pp.966~984 (2013)
- Kim, T. S., "The Relation between Managerial Compensation and Firm Performance in Korea Listed Companies", Korean Accounting Review, 24(2), pp.87~116 (1999)
- Murphy, K., "Handbook of Labor Economics 3" (1999)
- Park, G. H., "Executive Compensation Packages: Their Implications on Accounting Policy", The Korean－Japanese Economics & Management Association, (9), pp.273~303 (1993)
- Qi, H. J., "The Empirical Research of Incentive Effect of the External Fairness of Executive Compensation on Agents' Behavior", Accounting Research, (3), pp.26~32 (2014)
- Raithatha, M., "Executive compensation and firm performance:Evidence from Indian firms", IIMB Management Review, 28(3), pp.160~169 (2016)
- Woo, H. J., "Differences in Cost Strategies of Disclosure System of Executive Compensation", Korean Journal of Management Accounting Research, 20(3), pp.1~36 (2020)
- Wu,Y. H., "Executive Compensation: Incentives or Self－Interests? －Evidence from Listed Firms in China", Accounting Research, (11), pp.40~48 (2010)
- Zang, X. D., "On the Legal Regulation of Executive Compensation in Listed Companies", Doctor, pp.2017